David has mentioned that he would work on pegging sooner than later. That would automatically fix all this volatility issue. There is no Buy wall so price decline shouldn't be surprising at all. Anyone with small amount of BTC can float the boat any way he wants.
I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.
I would like to see what happens after 6 months of marketplace and pegging. Whatever happens before that doesn't concern me. My bay is stored in thumb drive 20 miles from here.
Well, as a trader I'm not a big fan of the pegging actually... nor do I think the restricted liquidity will go over big necessarily. However, it's a new concept - or more accurately a new combination of concepts - so I can't prove it won't be exactly what's needed. On the other hand, I've seen way bigger losses (and gains thankfully) so this kind of action definitely doesn't spook me. In any case, I'm here for the show - and like you, for the marketplace itself. Regardless of what else is going on, and even if he has to do it all himself, if David can push things through to the marketplace release and that works to even a fraction of it's potential... then all will be quickly forgotten and forgiven.
On the other hand, with ever-expanding fantasies of the numerous bitter/burned investors, it will be hard for him to keep his head above the fray. I do have faith that he can do it - he hasn't run away from BC to greener pastures, and he's worked and delivered on his past promises. Maybe not the best situation at the moment, but you could be holding BALLS that were purchased at 20K which are worth around 200 sats now. BAY would have to be selling for below 1 sat so see the same (and that's in the same time frame as well).
Personally, I don't think pegging is needed for now but if you want new investors (long term ones) then pegging will need to be in place otherwise lot of people won't touch it because of volatility.
I think there aren't many good devs in crypto and David is torn between smart contract & pegging. He has lot on his table and it's not easy to find someone reliable who knows the stuff.
On other hand I don't think BitBay team is just running around to make profit so they can run away if that had been the case there is no reason for them to post anymore. All in all if BitBay turns out to be a scam which I don't think it is..people will end up losing faith in altcoins in general and it'll be dead in few years.
The point is, im very consistent with my word. However, im trying to decide if its better sooner than later. I dont like what im seeing either, and unless you guys have the patience to bear this issue.
If anything its very distracting. In order to work and focus even, i need to block it out of my head. I can either follow the schedule that was set or just shift gears. Its not the kind of thing you can rush either.
It might be an good idea to peg earlier then expected but not at the price it goes for now.
That would be a huge pain for most investors, I do have the patience to wait for the price to go a bit up.
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